Sapura Energy says persons in Brazil corruption probe not its employees


FILE PHOTO: A demonstrator holds a Brazilian Flag during a motorcade in support of the "Lava Jato" (Car Wash) corruption investigation in front of headquarters of the Attorney General in Brasilia, Brazil on Sept 6, 2020. - Reuters

KUALA LUMPUR (Bernama) -- Sapura Energy Bhd today clarified that two accused persons who were issued a search and seizure warrant by the 13th Federal Court of Curitiba, Brazil, relating to a Car Wash corruption probe are neither employees or directors of the company.

"No director or employee of Sapura Energy is the subject of the current investigation by the Brazilian authorities,” it said in a media statement.

Nevertheless, it said Sapura Navegacao Maritima SA (SNM), its 50:50 joint venture (JV) in Brazil with Seadrill Ltd is fully cooperating with the Brazilian investigating authorities.

It explained that the JV is a separate entity managed independently of its two shareholders and that to date, SNM has not been contacted by any other authorities.

"Sapura Energy reiterates that at all times, it conducts its business in accordance with the law and best corporate governance, in line with our corporate values of professionalism, honesty and trust,” it said, in regard to the company’s zero-tolerance policy towards bribery and corruption.

As part of good corporate governance, Sapura Energy added that it had initiated its own inquiry to ascertain whether there were any breaches of any laws and non-compliance with its Code of Ethical Conduct.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Oil climbs for sixth day on supply concerns, Brent tops US$80
AmInvest launches second sustainable fund, focus on climate
Daibochi posts 22.7% decline in FY21 operating profit
Moody’s Analytics: China’s property market too big to fail
Reservoir Link secures Shell contract for slickline services
Mah Sing extends home ownership campaign until Dec 31
Energy stocks rise as Brent rallies past US$80 a barrel
HLB, Hong Leong Islamic Bank provide RM33.4bil payment relief assistance
August exports hit nearly RM96b, boost by E&E, petroleum
RHB launches sustainability financing plan, including solar panels, hybrid cars

Stories You'll Enjoy


Vouchers